Tea exports are expected to decline sharply in the second quarter of 2020

In the first quarter of 2020, tea exports reached 26.6 thousand tons, valued at US $ 38.7 million, up 0.03% in volume, but down 16% in value over the same period in 2019 due to oversupply pressure on global market and the effects of the COVID-19 epidemic.
The Import and Export Department (Ministry of Industry and Trade), citing statistics from the General Department of Customs, said that Vietnam's tea export in March 2020 reached 9.2 thousand tons, worth 13.1 million USD, an increase of 0. , 06% in volume, but down 20.6% in value over the same period in 2019. The average export price of tea reached US $ 1,413 / ton, down 20.7% compared to the same period in 2019.
 
Generally for the first 3 months of 2020, tea exports reached 26.6 thousand tons, valued at US $ 38.7 million, up 0.03% in volume, but down 16% in value over the same period in 2019; The average export price of tea items reached US $ 1,457.4 / ton, down 16.1% over the same period in 2019.
 
The decline in tea exports was due to oversupply pressure on the global market, which made the price of tea plummet. In addition, the effects of the Covid-19 epidemic disrupted trade between Vietnam and its partner countries due to limited cargo transportation and reduced demand for tea in many countries. If the disease situation is not controlled early, the Import and Export Department forecasts that Vietnam's tea exports will decline sharply in the second quarter of 2020.
 
In the first 3 months of 2020, tea exports to three main markets, Pakistan, Russia and Taiwan, all decreased. In particular, tea exports to Pakistan reached 6.84 thousand tons, valued at US $ 12.28 million, down 11% in volume and down 16.3% in value over the same period in 2019. Export of tea to Russia market reached 3.5 thousand tons, worth US $ 5.4 million, down 4.4% in volume and down 3.8% in value; Tea exports to Taiwan market reached 3 thousand tons, worth US $ 4.4 million, down 12% in volume, down 16.8% in value over the same period in 2019.
 
Notably, while exports to major markets in the first 3 months of 2020 decreased, tea exports to markets in Indonesia, the United States and the United Arab Emirates increased sharply.
(+84)904 527 527